This website uses cookies to ensure you have the best experience. Learn more

Marketing Essay

3850 words - 16 pages

Marketing Principle
Marketing Principles
Table of Contents
Introduction 1
Assignment 1 1
LO 2.1 show macro and micro environmental factors which influence marketing decisions 1
Assignment 2 3
LO 1.1 explain the various elements of the marketing process 3
LO 1.2 evaluate the benefits and costs of a marketing orientation for a selected organization 3
LO 2.2 propose segmentation criteria to be used for products in different markets 4
LO 2.3 choose a targeting strategy for a selected product/service 4
LO 2.4 demonstrate how buyer behavior affects marketing activities in different buying situations 4
LO 2.5 propose new positioning for a selected product/service 5
LO 3.1 explain how ...view middle of the document...

Assignment 1
LO 2.1 show macro and micro environmental factors which influence marketing decisions
Company’s marketing environment is made up of three parts-internal environments, which includes the conditions within the company like employees, policies products, etc. and these things can be controlled by the company. Next is Micro environment which is made up of that factors which are close to the company and they affect the company on daily basis like customers, banks, etc. Last is macro environment which includes the factors that affect the firm in long run. These factors can be national or global and it affects the whole industry like economy, recession, etc (Hughes, 2002).
In Social culture Tesco has many factors to satisfy the needs of the people and they make regular efforts to understand the demands of the people. They have many types of products to meet the needs of every age group and behavior for example they have organic food for diet conscious people, kids range, etc. Tesco understands that people wants to shop at one place and that why company provide everything under one roof. If we see the economic culture then the company was able to survive 2008 recession, in fact they were making profits at that time also because they started producing goods which people need even in worse market conditions. They allocated their funds to setup new products and as a result they were successful. It’s the modern era and Tesco is well aware, that’s why they use the technology in many different ways to make the shopping easy for the customers. They have also started their online store to help people to shop from home and it’s a huge success for them. If we see the political and legal culture, we know that each country has its different policy and if we see Tesco, they are operating in many countries so its performance is hugely affected by those policies. Tesco is regularly trying to meet the demands of local market by making products that meet the needs of the customers. In the context of environment culture, Tesco try to use the renewable sources of energy as much as possible in its stores and they also encourages their employees to reduce the wastage (Simpson, 2005).
If we analyze further, the main strength of Tesco is its Brand Name. People associate the company with good, reliable and trustworthy products which meet their demands completely. Tesco has always tried to use the innovative ways to improve the customer’s shopping experience by using its online store, club cards. Company is growing day by day in the world and they are also expanding their product line to reach more and more people. If we see the weakness then we will find that Tesco is heavily relying on UK market because 50% of its revenue comes from UK. If company wants to expand its business then there are many opportunities available for them in the non food sector. They have expanded their product line to insurance, banking, etc. and this expansion is helping the company...

Other Papers Like Marketing

Marketing Essay

683 words - 3 pages Marketing There are many definitions of marketing and there are also what other people think marketing is. I know for me I never fully understood what marketing was until I looked at other definitions of marketing. There is also importance to marketing when it comes to success. I think that marketing is very important when it comes to success because without marketing there would be a lot to question and companies would not exactly know

Marketing Essay

843 words - 4 pages Details of Assessment | Term and Year | 2, 2015 | Time allowed | 2 Hours | Assessment No | 1 | Assessment Weighting | 30% | Assessment Type | Written Response | Due Date | Week 5 | Room | 610 | Details of Subject | Qualification | BSB51207 Diploma of Marketing | Subject Name | Marketing Audit Report | | Details of Unit(s) of competency | Unit Code | BSBMKG515A Conduct a Marketing Audit | | | | | Details of

Marketing

1326 words - 6 pages Marketing Research Paper Denise Guerrero MKT/421 Monday, October 5, 2012 Sheryl Joyner Marketing Research Paper To establish a successful business in a competitive market, a company must have an effective marketing team. The marketing segment of an organization is responsible for development and execution of a strategic business plan for future business opportunities. A constant essential in the appropriate development of a

Marketing - 1076 words

1076 words - 5 pages How does Marketing affect the Global Economy Introduction: Nowadays, the development of global economy is closely related to the Marketing which involves some professional behaviour to sell or promote the goods. There are no possibilities to push the economic growth without the strategies of the Marketing, on the other hand, the Marketing cannot be separated from the global economy. During the financial crisis, the amounts of global

Marketing - 699 words

699 words - 3 pages Defining Marketing for the 21st Century Chapter Questions      Why is marketing important? What is the scope of marketing? What are some fundamental marketing concepts? How has marketing management changed? What are the tasks necessary for successful marketing management? Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1-2 What is Marketing? Marketing is an organizational function and a set of

Marketing - 1112 words

1112 words - 5 pages Omar Rochell Marketing MKT/421 April 7, 2011 Nikki Jackson Introduction Marketing is exposed to someone every day, even when they do not seem realize it. Driving down the roads you see billboards everywhere and that is part of marketing. Logos people were on their shirts and signs in the middle or on the sign of football fields are all part of marketing. Even when a child is marketing themselves to their parents to borrow the car or

Marketing - 1085 words

1085 words - 5 pages UNIVERSIDADE DO VALE DO ITAJAÍ – UNIVALI ACADÊMICO: ÍTALO ZORZAN VELASQUES PROFESSOR: CAIO SANTANGELO Marketing Internacional Marketing internacional ou global marketing refere-se ao marketing executado por empresas transatlânticas ou fronteiras nacionais. Esta estratégia usa uma extensão das técnicas utilizadas no país principal da empresa. De acordo com a associação americana de Marketing o “marketing

Marketing - 1110 words

1110 words - 5 pages characteristics of a firm that would follow a marketing orientation. Marketing orientation is “a philosophy that assumes that a sale does not depend on an aggressive sales force but rather than on a customer’s decision to purchase a product; it is synonymous with the marketing concept.” • Unlike sales orientation, a firm would focus outward on the customers wants and needs. • The goal of a firm is to satisfy customers wants and needs and delivering

Marketing - 633 words

633 words - 3 pages Bette Smith's marketing plan is about a Chiropractic Center in Fremont, Nebraska. The plan outlines market analysis, recommendations, strategies and evaluation controls to establish Chiropractic business for the client. The plan submitted is poor in nature and has some specific problems and improvements in the designated marketing strategy areas. Lot of sections mismatched or misplaced and there are many problems in the case analysis. We have

Marketing - 773 words

773 words - 4 pages Marketing is the important and inseparable part of business function and its role of business is developing day to day. According to Kotler and Armstrong, although most people think that marketing is only selling and advertising, it actually is a mix of customer satisfaction and selling and advertising (Kotler & Armstrong, 2010, p.29). If marketers generate good customer relationships by satisfying the customer, they will sell easily. Therefore

Marketing - 4547 words

4547 words - 19 pages Marketing is defined by the AMA as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." [1] It can also be defined as "the process by which companies create value for customers and build strong customer relationships, in order to capture value from customers in return". This replaces the previous definition

Related Essays

Marketing Essay 1324 Words

1324 words - 6 pages ~WELCOME~ Sunderland Business School University of Sunderland MBA MARKETING MANAGEMENT Module Code: PGBM 15 ~Module Introduction ~ ~Concepts of Marketing Management~ Presented by: Frankie Lim Frankie Lim L1 Module Introduction & Concepts of Marketing Management L1-1 Lecture Outline (PGBM 15) • Welcome & Getting to know each other • • Learning Outcomes Teaching & Learning Methods • • • • Assessment Methods Content

Marketing Essay 620 Words

620 words - 3 pages 2/28/2011 Creating a  Marketing  Marketing Plan Basic Layout Executive Summary External Analysis Internal Analysis l l SWOT Objectives Marketing Strategy Marketing Strategy Marketing Plan (4P’s) Budget & Controls 1 2/28/2011 Executive Summary Brief summary of the main conclusions, objectives, strategy, l i bj ti t t implementation and required budget. Executive Summary External Analysis Internal Analysis l l SWOT

Marketing Essay 834 Words

834 words - 4 pages Define Marketing Paper Nichole Heck MKT/421 February 26, 2015 Richard Theroux Define Marketing Paper Abstract In the modern business world, marketing is a vital part of the company’s success. Marketing allows consumers to view the different products, promotions and services provided by said businesses and gives them the ability to compare pricings, products and services. There are many different ways companies can market their

Marketing Essay 583 Words

583 words - 3 pages Marketing MKT 421 May16, 2012 Marketing Introduction In 2007 Senator Barack Obama from Illinois was running for president of the United States. Senator Obama used on and offline tactics to reach out to all sorts of audiences; do so with online and offline, and free and paid media sources. The more Obama’s messages spread the more voters identified with him. He had used resources to gain popularity that no other presidential